Can Foreigners Buy Property in Thailand?

Can a Foreigner buy property in Thailand

Can a foreigner buy a Condo/Apartment in Thailand?; (Foreign Ownership)

This is the easiest and investment option for the foreign investor. You can buy a condo direct from a developer or a second hand apartment as a foreigner in your own name (Freehold) as long as the development is 51% owned by Thai. The only restrictions on purchasing an apartment in foreign name, are the percentage of units sold to foreigners cannot exceed forty nine percent (49%) of the total floor area in the condominium development and that the currency use to buy the condo is recorded by a Thai Back on a Foreign Currency Remittance Form known as a (Tor Tor 3)

Can a foreigner buy a house or land in Thailand

Although Thai law prohibits foreigners from owning land in Thailand, there are various ways in which you can structure your affairs so that you can own land, and still comply with existing Thai laws: (Thai Company Ownership)

Purchasing land through a limited company - The 2nd option is to form a Thai Limited Company. If you decide this is the best option for you, be aware that as a foreigner, the maximum share of the company you can own is 49% and the remainder will need to be split with nominated Thai Partners with you nominated as controlling director of the company. Company ownership condos are often cheaper to buy from the outset compared with foreign ownership condos for sale. Also there is no tax and transfer costs to pay at the land office saving money on name transfer as the company name on the title deed remain the same the only thing that changes is the share ownership with the limited company, which can be done with a lawyer at minimal costs approximately 6,000 Thai Baht.

Long Term lease hold agreements

Another option available is, hassle free and the recommended way for foreigners to own property in Thailand is to go down the route of opting for a long term lease, which is automatically renewable. Whilst this practice doesn’t obviously secure title ownership, long term leaseholds are incredibly common with foreigners buying property in Thailand and are also very secure. Long term leaseholds are frequently used when purchasing property in Thailand. Whilst the terms and conditions may vary between condominiums and property developers, The initial agreement usually is set at a 30 year lease hold agreement.